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Social Casino Revenue Forecasted to Hit $2.7 Billion by the End of 2014

By: Staff

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The social casino gaming phenomenon has gained exponential growth over a very short time. Adam Krejcij, a gaming analyst of Eilers Research, forecasted that social casino in the United States is likely to go over $2.7 billion in revenue by the end of 2014.

Social gaming sites’ income has boomed due to the millions of players who buy virtual gaming tokens. The increasing popularity and growing activity of social gaming prompted Station Casino to sign a deal with myVegas social gaming site.

Social gaming applications such as myVegas are downloaded for free. They gain revenue when players buy virtual gaming tokens to increase their chances of winning virtual rewards. For less than $1 a player gets thousands of tokens.

Station Casino believes that social gaming is an effective way to keep its customer base happily engaged even if they are not playing in a brick and mortar Las Vegas casino.

MGM Resorts and PlayStudio

MGM Resorts International has partnered with myVegas two years back. Based on a report from PlayStudios, headed by former Wynn Vegas President Andrew Pascal, MGM’s myVegas has now more than one million active users every day.

According to Eilers Research, PlayStudio is the eighth largest social casino games publisher across continents and is slotted to gain over $60 million in gross revenue by year’s end. With players continuously buying tokens, PlayStudio is one of the fastest growing social gaming companies with a revenue growth rate of 300% per year.

Real World Rewards

What makes MGM Resorts unique in terms of redeeming points earned from playing myVegas? Rewards are in the form of show tickets, restaurant vouchers, free overnight stay and nightclub passes at any of the company’s 10 Vegas Strip resorts.

Station Casinos has followed suit and through myVegas, offers players the option to redeem rewards for entertainment offerings, restaurant options and overnight stay at Green Valley Ranch Resort, Palace Station and Red Rock Resort. Red Rock and Green Valley are higher end resorts whereas Palace Station is near the Las Vegas Strip.

MyVegas players are offered 10 different rewards - dinner at Charcoal Room at Palace Station, T-Bone Chop House of Red Rock and Hank’s of Green Valley. In order to redeem myVegas rewards from any of Station Casino’s properties, players must be legitimate members of the company’s loyalty program. They must also be physically present to redeem the reward for proper identification.

Station Casino and PlayStudio

Staci Alonso, Station Casino’s senior VP, expressed that the long-standing relationship between PlayStation’s Andrew Pascal and Station Casino’s Steve Cavallaro and the impressive outcome of MGM’s affiliation with myVegas aided in quickly cementing the deal.

According to Alonso, on opening day of the program, they are sold out of breakfast buffet at Feast and have bookings for a number of room nights. Alonso is optimistic that through this opportunity and platform, Station Casino brand will be known to regional guests.

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